OAKVILLE, Canada, Nov. 29, 2016 /PRNewswire/ -- Trading through the FIX API protocol has become increasingly popular, and its use continues to grow. This is primarily because traders have been long dissatisfied with the trading terms of mainstream platforms. Nevertheless, the requirements to open a FIX API account are unacceptable for the vast majority of traders – the minimum deposit that a trader needs to put up to open a FIX API account is often $10,000 and up.
The reason for high minimum deposits is that FIX API accounts present additional problems for forex brokers. In order to open a FIX API account, the broker needs to set up a separate FIX API account (i.e., distinct from the clearing account) with the liquidity provider used, which limits the scope of the broker's possibilities. The liquidity provider, in turn, will agree to open that kind of account only if the trader generates relatively high trading volume, which typically involves at least $50,000 in trading capital in a given account. In other words, for most traders this is not a viable option.
This now looks set to change. In November of 2016, the Canadian company FXMars Inc. introduced 4FXBrokers FIX API Splitter, a revolutionary product that enables traders to open FIX API accounts without having to deal with such onerous requirements as minimum deposits or commissions, ultimately levelling the playing field for the trading community.
A brief description of the product is in order. The broker opens an account with its liquidity provider, which can act as a master account, and connects the account to FIX API Splitter. FIX API Splitter is part of 4FXBrokers FIX API Bridge. Using the 4FXBrokers FIX API Bridge manager, the broker can create an unlimited number of FIX API accounts and assign them to clients. The 4FXBrokers FIX API protocol for client accounts allows the user to use market GTC (good-till-canceled) orders as well as limit FOK (fill or kill), IOC (immediate or cancel), and stop orders. The protocol is described scrupulously, and the trader has the ability to create one's own trading strategies (black boxes) and test them in the real market.
Quotes from the master account are transmitted through the master FIX API protocol to 4FXBrokers FIX API Splitter and are then retransmitted through the 4FXBrokers FIX API protocol to numerous client accounts. Orders from client accounts are transmitted through 4FXBrokers FIX API to 4FXBrokers FIX API Splitter and then through master FIX API to the master account.
Most important, at less than 5 milliseconds, the delays associated with 4FXBrokers FIX API Splitter with respect to the transmission of quotes and orders are so negligible that they won't affect even those traders who use high-frequency strategies.
The МТ4® terminal is the graphical user interface (GUI) used. The broker can enable or disable trading from the МТ4® terminal as required. Every FIX account is linked to an МТ4® account, where open orders and the order history are displayed for the trader in a user-friendly format.
4FXBrokers FIX API Splitter is a new, groundbreaking solution for market participants and is currently used by only a handful of brokers. Those brokers who are the first to offer traders fully functional FIX API accounts with deposits as low as $100 will find an extraordinary niche and thousands of new clients eagerly anticipating their needs to be met.
Also worthy of note is FXMars's offer of a complimentary trading system – FIX API Trader – to those traders who are able to convince their brokers of the need to introduce 4FXBrokers FIX API Splitter. The system is especially suitable for high-frequency trading strategies.
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SOURCE FXMars Inc